Airbus to Present $10 Bln Plane to Rival Boeing 787 Dreamliner
Airbus SAS, trailing Boeing Co. in new orders for the first time in six years, will present plans for a new $10 billion, mid-size plane to compete with the U.S. planemaker's 787 tomorrow at the Farnborough air show in England.
``The product specifications for the A350 are complete,'' Tom Enders, co-chief executive officer of Airbus parent European Aeronautic Defence & Space Co., told journalists at a briefing in Bath, England, before the opening of the show. Christian Streiff, Airbus's new CEO, will give the details, Enders said.
Airbus plans to spend $10 billion to redesign the A350, building an all-new plane rather than a derivative of an existing model, which would have cost half that figure, three people familiar with the plan said in May. Enders said that the $10 billion development figure is ``in the ballpark.''
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